* Company says bids "significantly undervalue" group
* Shares rise 19 percent (Adds detail, shares)
LONDON, July 8 (Reuters) - British IT consultancy Morse said on Wednesday it had received takeover approaches at 25 pence a share, which it said significantly undervalued the company.
Morse said in a statement that there was no certainty that an offer for the group would be made.
The group's shares were 19 percent higher at 23.75 pence at 1215 GMT, valuing the company at about 31 million pounds ($50 million).
The Financial Times reported earlier on Wednesday that two parties were interested in bidding for the group. (Reporting by Paul Sandle; Editing by Jon Loades-Carter) ($1=.6224 Pound)